|This week Australian alternative investment management firm Fortitude Capital announced its plans to merge with Australian-based diversified funds manager Aurora Funds. The new merged entity will manage approximately $500 million and will be led by Chief Investment Officer John Corr, the founder of Fortitude Capital. With the merger, both firms hope to increase investment opportunities as the markets begin to recover. Fortitude Capital and Aurora Funds also hope to strengthen their funds’ distribution and profiles with retail investors while increasing the cost effectiveness of the businesses overall.|
Fortitude Capital currently managers an Equity Income Fund, an Absolute Return Fund and an individual mandate and oversees $52 million of overall assets under management. Aurora Funds, established in 2003, issues and distributes multiple investment trusts with specialist investment strategies.